1. The first season was brilliant for its time. Like nothing that had ever been on TV before. In that regard it was ground breaking. To go back and watch it now though, you will realize there are dozens of shows like it so it won't seem so fresh and different.
2. It was originally envisioned to be a limited series and it should have stayed that way. Once ABC asked them to string out the story lines it kind of wobbled to an ending. I think if Lynch had just told the whole story in one season it would have been much better.